Two Chip Stocks Boosted by Apple, Samsung

J.P. Morgan likes Maxim Integrated and Avago Technologies.

November 9, 2012

November 9, 2012

J.P. Morgan

Now that third-quarter earnings season is mostly complete, it appears estimate cuts for semiconductor stocks were a little worse than we had expected.

Consensus 2013 earnings-per-share estimates for large-cap semiconductor stocks declined 7% during third-quarter earnings, below last quarter's decline of 3%, due to softness across the board. However, margins and inventory are close to the trough, and we continue...